The Landlocked Continent

By

Martin Baily and

Jacob Kirkegaard

Updated Dec. 6, 2004 12:01 a.m. ET

Last month, former Dutch Prime Minister Wim Kok presented to European leaders his mid-term review of the Lisbon reform agenda. He concluded -- surprise, surprise -- that Europe will not, after all, become the most dynamic and competitive knowledge-based economy in the world by 2010.

As Mr. Kok told the leaders, their governments simply have failed to implement the necessary economic reforms to achieve the Lisbon goals. But he did not help to focus attention on the things that matter most. Instead, he presented no fewer...